The South American country of Argentina will elect a new president in October 2023, and there is a reasonable chance that a pro-bitcoin candidate will be elected as the new head of state. Javier Gerardo Milei, who is currently a federal MP from Buenos Aires, has been compared by many to former US President Donald Trump and outgoing Brazilian President Jair Bolsonaro. If elected, Milei would be the first pro-Bitcoin president in South America.
Running for President of Argentina in 2023, Milei is a die-hard bitcoiner who preaches the Austrian school of economic thought. He has said in previous interviews that he wants to "kick the ass of the Keynesians and collectivists" and is giving away his monthly salary to fight a government that he says is "stealing" from Argentine citizens.
Bitcoin is the answer to central banks
In an interview, Milei was asked if he thinks it is possible to discuss bitcoin as a means of payment in Argentina. And the presidential candidate gave a response that could make Satoshi Nakamoto proud. Milei said the core issue people need to understand first is that "the central bank is a scam. It is a mechanism by which the politicians cheat the good people with the inflation tax".
Milei believes it is possible to discuss bitcoin as a form of payment in Argentina as long as people understand that the central bank is a scam and that politicians are using the inflation tax to scam the good people. That's a strong statement, and it's perhaps what Satoshi Nakamoto would have wanted to hear from any of his potential successors.
Milei said that Bitcoin represents money's return to its original creator, the private sector. Money is a private invention, and legal bidding is the key to getting the politicians to cheat you with the inflation tax. Bitcoin has an algorithm that says that one day it will reach a certain amount and then there will be nothing left, allowing it to compete with other currencies.
Milei reiterated his point, saying the problem is that governments and central banks don't want to give up legal tender because they can cheat people with an inflation tax. He concluded by saying that this was a problem.
Bitcoin is a digital currency that allows people to exchange money without the need for a central authority. Bitcoin is a response to central bank scams and aims to make money more private again. In economies with high inflation, the fraud problem is greater, so closing the central bank is a good idea.
How likely is Argentina's Bukele to rise?
According to an October 2022 AmericaElects poll, Milei is likely to lead the La Libertad Avanza coalition and has the support of 24% of respondents.
The poll was conducted before one of Milei's biggest political rivals, Cristina Fernández de Kirchner, withdrew her candidacy. With her retreat, Milei's lead could likely grow.
However, since the coalitions have not yet officially announced their candidates, the outcome of the elections in Argentina is still unclear.
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